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Hexatronic reports submarine cable order, completion of Italian company acquisition

Sweden’s Hexatronic Group AB reports that it has won orders for submarine cable with a total value of approximately $8 million.

A press release said that Hexatronic Cables & Interconnect Systems AB, a subsidiary of Hexatronic Group AB, concluded several agreements for fiber optic submarine cable from unnamed new customers in Europe. Deliveries are planned to be completed in 2021. “We are very happy with the agreements, which (are) proof of the market’s confidence in our broad offering in submarine cable,” said Hexatronic Group AB CEO Henrik Larsson Lyon.

The company also recently reported the completion of a majority acquisition of Qubix SpA, an Italian supplier of structured cabling for telecommunication infrastructure in buildings and on campuses. Its products include optical cables for high fire risk environments. It offers structured copper cabling solutions under the CCS® brand.

A press release said that Euromicron Holding GmbH sold the 90% it owns of Qubix for approximately €14.4 million. Qubix was established in 2001 as a spin-off of a cable manufacturer. Its founder and general manager, Filippo Gnocco, will continue in his current position and remain a minority shareholder with 10% of the shares. Most of Qubix’s sales are in the Italian market, and it generated an EBITDA of €3.8 million in the last 12 months.

Read 719 times Last modified on January 4, 2021